EURGBP dip buys at the bottom test of the short term bullish structure

Avatar
24 August 2021 | Updated: 24 August 2021

Key Support: 0.8545
Key Resistance: 0.8590

The EURGBP rejected the top of the immediate bullish structure and dropped -0.60% to retest the previous broken highs (Jul 27- Aug 2 highs).

This market is trading inside a very structured bullish move creating bullish divergence since the rally from last week’s lows every time it dips higher. This is a flag for bullish continuation should the tested broken highs hold as support.

Not only that but we have a fibonacci cluster at this level with price dipping 38.2% of last week’s range and 61.8% of the last wave up. Also hitting short term bearish targets at the 161.8% of the last leg up (0.8564-0.8594).

All of this combined makes it for a high probability setup to buy into these past day’s weakness.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!